HRN 3.51% 29.5¢ horizon gold limited

Ann: Compelling Gum Creek Scoping Study, page-3

  1. 11,726 Posts.
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    Just don't see how this project will move forward on the numbers they provide.
    Not a lot of margin for safety if they do get into production, with low grades and... 14 separate pits!
    Basically 1 good pit that will help supply the bulk of ore for years 1-4. Then, it's just small pits all the way.
    I also don't believe the 5:1 strip ratio.

    I guess I am very negative on the study for now, because it just is not going to move the dial.

    Good to see they included pre-productions costs.
    I also don't believe the AISC will be as low as they hope.

    Anyway, HRN just continues to slowly move towards.... something close to a viable project, but... I just don't see it in the near term.

    Good luck to patient holders!
 
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